Canadian firm launches ETFs on alternative exchange

Canadian firm launches ETFs on alternative exchange

Canadian firm launches ETFs on alternative exchange Mackenzie Investments is launching a fixed-income ETF on the Aequitas NEO Exchange.

The Mackenzie Global High Yield Fixed Income ETF (MHYB), which has gotten final approval from NEO and Canadian securities regulators, will be the fifth active fixed-income ETF that Mackenzie launches on the public markets, and the first to be listed on NEO.

“This new ETF complements our robust and innovative fund line-up,” said Michael Cooke, senior vice president and head of exchange traded funds at Mackenzie Investments. “[T]he active management allows investors to benefit from our deep fund management expertise, with the structural benefits not available in other investment vehicles.”

MHYB seeks to deliver a steady income stream along with long-term capital growth. The manager running the fund will follow disciplined criteria, which include rigorous credit analysis as well as ongoing assessment of relative and absolute valuations.

“We have been observing the efficiencies and competition NEO has brought to the Canadian ETF space and are impressed by their liquidity and top-notch execution,” Cooke said, adding that NEO’s extraordinary support, service, and depth of knowledge will be critical in exposing MHYB to a broader audience.

“[This partnership] serves to validate our innovative solutions which are levelling the playing field and ensuring the necessary liquidity required for public companies and listed products to succeed,” said Jos Schmitt, president and CEO of Aequitas NEO Exchange.

MHYB is expected to begin trading on April 26.

For more of Wealth Professional's latest industry news, click here.

Related stories:

NEO announces platform support for OM funds
Competition heating up in Canada’s capital markets